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Investments and Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Components of Investments The components of our investments as of June 30, 2023 are as follows (in thousands):
As of June 30, 2023
Fair Value MeasurementBalance Sheet Classification
Fair Value LevelCost BasisUnrealized Gains (Losses)Market ValueCash and Cash EquivalentsShort-term Investments and Marketable Securities
Money market fundLevel 1$55,800 $— $55,800 $55,800 $— 
U.S. Treasury bondsLevel 117,002 (21)16,981 — 16,981 
Commercial paperLevel 228,957 — 28,957 — 28,957 
Corporate bondsLevel 22,457 (1)2,456 — 2,456 
Agency bondsLevel 217,035 1 17,036 — 17,036 
Total investments$121,251 $(21)$121,230 $55,800 $65,430 

At December 31, 2022, our investments consisted of the following (in thousands):

As of December 31, 2022
Fair Value MeasurementBalance Sheet Classification
Fair Value LevelCost BasisUnrealized Gains (Losses)Market ValueCash and Cash EquivalentsShort-term Investments and Marketable Securities
Money market fundLevel 1$39,469 $— $39,469 $39,469 $— 
U.S. Treasury bondsLevel 19,396 (13)9,383 — 9,383 
Commercial paperLevel 226,704 — 26,704 — 26,704 
Corporate bondsLevel 29,353 (12)9,341 — 9,341 
Agency bondsLevel 22,432 3 2,435 — 2,435 
Total investments$87,354 $(22)$87,332 $39,469 $47,863 
Schedule of Amortized Cost Basis and Fair Value of Debt Securities by Contractual Maturity
The amortized cost basis and fair value of debt securities as of June 30, 2023, by contractual maturity, are as follows (in thousands):

As of June 30, 2023
Cost BasisFair Value
Due in one year or less$121,251 $121,230 
Total investments$121,251 $121,230